How much is the basic pension in Taizhou

The amount of basic pension in Taizhou is as follows:

The calculation of basic pension in Taizhou area in 2022 is as follows: the unit pays 20% of the total salary, the individual pays 8%, and the part paid by the individual goes into the personal account. Taking the monthly contribution of 3,000 yuan as an example, the monthly pension after retirement consists of the basic pension and the personal account pension. The basic pension is calculated as 3,000 yuan multiplied by 15 percent, and the personal account pension is calculated as 3,000 yuan multiplied by 8 percent multiplied by 12 multiplied by the number of years of service divided by 120. According to this way of calculating, the monthly pension you can receive after retirement is about 690 yuan.

Calculation of social security:

1. Individual account pension: calculated according to the accumulated savings in the individual account divided by the number of months of payment;

2. Basic pension: determined according to the standards set by the local social security bureau, usually related to the number of years of contributions and the contribution base of the insured person;

3. Transitional pension: in order to balance the treatment of participants in different years, some regions may have a transitional pension. Transitional pensions may be set up in some areas to balance the treatment of insured people in different generations;

4. Supplementary pensions for enterprises: these are determined by enterprises according to their own situation and negotiation with their employees, and the supplementary pension policy may be different for different enterprises;

5. Government subsidies: for eligible low-income elderly people, the government may provide a certain amount of subsidies for their pensions.

In summary, the basic pension in Taizhou area in 2022 consists of 20% of the salary paid by the unit and 8% paid by the individual, and the personal part is accumulated in the personal account, with a monthly payment of 3,000 yuan, for example, the monthly pension after retirement is about 690 yuan, which includes the basic pension calculated at 15% of the salary of 3,000 yuan and the accumulated years of the personal contribution part of the personal account pension.

Legal basis:

The Social Insurance Law of the People's Republic of China

Article 12

Employers shall pay basic pension insurance premiums in accordance with the state-regulated proportion of the total wages of the employees of the organization, which shall be credited to the Basic Pension Insurance Coordination Fund. Employees shall pay basic pension insurance premiums in accordance with the proportion of their own wages prescribed by the State and credited to their individual accounts. Individual industrial and commercial households without employees, part-time workers who do not participate in basic pension insurance with their employers, and other flexibly employed persons who participate in basic pension insurance shall pay basic pension insurance premiums in accordance with the state regulations, which shall be credited to the basic pension insurance general fund and individual accounts respectively.

Article 16

Individuals who have participated in basic old-age insurance shall receive a basic pension on a monthly basis if they have accumulated fifteen years of contributions by the time they reach the legal retirement age. Individuals who have participated in basic old-age insurance and have contributed for less than fifteen years when they reach the legal retirement age may contribute until they reach the full fifteen years and receive the basic pension on a monthly basis; they may also be transferred to the new type of rural social old-age insurance or the urban residents' social old-age insurance, and enjoy the corresponding old-age insurance treatment in accordance with the provisions of the State Council.